May 17, 2009

Here are a couple of the graphs from my new VDARE.com article on the causes of the default crisis, focusing on the Big One: California.

And here's a scatterplot of foreclosure filing rate (vertical axis) v. share of total home purchase lending in 2006 that went to minorities by way of subprime mortgages:

r = 0.89.

It's important to note that you won't get the same insanely high correlation coefficient across the whole country. There's no where to go but down from r = 0.89. There are heavily Hispanic areas like the Rio Grande Valley where the economy is so dull and the cultural level so low that there was never a Housing Bubble. Same for black areas in Mississippi and the like.

Still, California is absolutely the central thread to understanding what went wrong with the economy, and the pattern is absolutely clear in California.

Steve said: There are heavily Hispanic areas like the Rio Grande Valley where the economy is so dull and the cultural level so low that there was never a Housing Bubble.A dull economy and low culture: better than a phony economy and "vibrancy."

Face it, other parts of the country are just more sensible than the SoCal dystopia.

"Why not a simple scatterplot+correlation of the Latino percentage vs. dollar foreclosure amounts (or maybe rates) for the 20 CA metro areas? Then the same for black percentage and Latino+black percentage."

For Hispanic share of total conventional home purchase mortgage dollars (prime and subprime) in 2006, the correlation with the Q1-2009 default rate in the top 20 metro areas is r = 0.68

For blacks, it's = 0.48.

For blacks plus Hispanics (with a small amount of overlap for the few black Hispanics such as Dominicans in California), it's 0.77.

For Native Hawaiians and Other Pacific Islanders, it's 0.54.

For American Indians, it's 0.44.

For Non-Asian Minorities (plus American Indians and a not insubstantial number of Pacific Islanders), it's 0.81.

For Asians, the correlation is 0.21.

For non-Hispanic whites, the correlation is -0.78.For non-Hispanic whites, the correlation is

Yo Steve, reading this VDare article lead me to "Report From Occupied America: Sunday in the Park with Jorge". I want to share an anecdote about something that occurred today (Sunday).

I headed down to the local community center (in my East coast town of 10,000) to shoot some hoops on the outdoor basketball court. As I pull in, I see about 100 Mexicans standing in lines practicing some silly dance for an unknown reason. They are occupying the basketball court and most of the parking lot.

It's hard to describe what went through my mind at that point. These aren't my people. They weren't here when I grew up. Their tax dollars did not build this community center. They are outsiders, occupying my town and setting up their own little colony.

And yet at that moment I felt like the outsider. I knew that if I went into that group and asked them what they were doing, I would be met with scorn and derision. I knew that I could not speak the language that they used among themselves. I thought that their behavior was bizarre, but I knew that they would feel the same way about mine.

I've had plenty of experience with racial (growing up the only white kid in an all-black neighborhood) and nationalist (being binational myself) tension, and I've recently become very interested in issues of white/American solidarity on race/nationality. But this was the first time in my life that I've ever felt like a stranger in my home town. What troubles me is that by the time most Americans start having experiences like this, it will be far too late.

Anonymous:It's hard to describe what went through my mind at that point. These aren't my people. They weren't here when I grew up. Their tax dollars did not build this... They are outsiders, occupying my town and setting up their own little colony. And yet at that moment I felt like the outsider. I knew that if I went into that group and asked them what they were doing, I would be met with scorn and derision. I knew that I could not speak the language that they used among themselves. I thought that their behavior was bizarre...

Demographics are not the most important thing - demographics are the only thing.

Here's the Google Wallet FAQ. From it: "You will need to have (or sign up for) Google Wallet to send or receive money. If you have ever purchased anything on Google Play, then you most likely already have a Google Wallet. If you do not yet have a Google Wallet, don’t worry, the process is simple: go to wallet.google.com and follow the steps." You probably already have a Google ID and password, which Google Wallet uses, so signing up Wallet is pretty painless.

You can put money into your Google Wallet Balance from your bank account and send it with no service fee.

Google Wallet works from both a website and a smartphone app (Android and iPhone -- the Google Wallet app is currently available only in the U.S., but the Google Wallet website can be used in 160 countries).

Or, once you sign up with Google Wallet, you can simply send money via credit card, bank transfer, or Wallet Balance as an attachment from Google's free Gmail email service. Here'show to do it.

(Non-tax deductible.)

Fourth: if you have a Wells Fargo bank account, you can transfer money to me (with no fees) via Wells Fargo SurePay. Just tell WF SurePay to send the money to my ancient AOL email address steveslrATaol.com -- replace the AT with the usual @). (Non-tax deductible.)

Fifth: if you have a Chase bank account (or, theoretically,other bank accounts), you can transfer money to me (with no fees) via Chase QuickPay (FAQ). Just tell Chase QuickPay to send the money to my ancient AOL email address (steveslrATaol.com -- replace the AT with the usual @). If Chase asks for the name on my account, it's Steven Sailer with an n at the end of Steven. (Non-tax deductible.)

My Book:

"Steve Sailer gives us the real Barack Obama, who turns out to be very, very different - and much more interesting - than the bland healer/uniter image stitched together out of whole cloth this past six years by Obama's packager, David Axelrod. Making heavy use of Obama's own writings, which he admires for their literary artistry, Sailer gives the deepest insights I have yet seen into Obama's lifelong obsession with 'race and inheritance,' and rounds off his brilliant character portrait with speculations on how Obama's personality might play out in the Presidency." - John Derbyshire Author, "Prime Obsession: Bernhard Riemann and the Greatest Unsolved Problem in Mathematics" Click on the image above to buy my book, a reader's guide to the new President's autobiography.